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Airtel Africa is ramping up its focus on digital finance with bold plans to spin off and publicly list its high-performing fintech division, Airtel Money, by 2026. This strategic move marks a significant milestone in the telecom giant’s broader ambition to lead Africa’s digital financial revolution.
To facilitate the upcoming initial public offering (IPO), Airtel Africa has brought on board global financial powerhouse Citigroup Inc. as its advisory partner. Market estimates suggest that Airtel Money could be valued at over USD 4 billion when it debuts on the stock exchange.
Speaking on the company’s IPO timeline, Olusegun Ogunsanya, Managing Director and CEO of Airtel Nigeria, confirmed the listing is scheduled for next year. “We plan to go public in 2026. Between now and then, we’re working on integrating more countries into our fintech operations to strengthen the offering,” Ogunsanya stated, underlining the ongoing preparatory efforts.
Airtel Money has rapidly emerged as a standout performer within the company’s portfolio. It currently serves over 45 million users and processes an impressive USD 162 billion in annualized transactions. The platform has not only scaled rapidly but has also become highly profitable, delivering a net margin of 48%. In the nine months from April to December 2024, Airtel Money generated USD 731 million in revenue—a sharp increase from USD 631 million over the same period the previous year.
Earlier strategic investments from global players such as TPG, Mastercard, and the Qatar Investment Authority have bolstered Airtel Money’s infrastructure and helped solidify its foothold in Africa’s burgeoning digital payments market. The fintech unit saw significant growth in 2024, expanding its user base by 21% to reach 38 million customers. That figure surged even further to 44.3 million by the end of the year, thanks to aggressive network rollouts and the introduction of dedicated Airtel Money service points.
The planned IPO is expected to be a pivotal event, not just for Airtel Africa, but for the broader African fintech ecosystem. Listing Airtel Money will enable the company to unlock substantial shareholder value, attract new capital, and position the platform as a key enabler of digital financial inclusion across the continent.
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However, the road to IPO success is not without challenges. Airtel Africa will need to skilfully manage regulatory complexities across its multiple markets, navigate currency fluctuations, and stay ahead in a competitive landscape dominated by both regional fintech startups and global digital finance players. If executed well, the public listing of Airtel Money could serve as a blueprint for how telecom-led fintech innovation can drive inclusive economic growth across Africa.
